DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the current name was embraced in July 2003 to demonstrate its evolving role as a regional bank.
The bank was put together by the Government of Singapore in July 1968 to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering over 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$ 482 billion as at 31 Dec 2016. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong.
Suggestion With regard to Acquiring Personal Loans In Singapore
Do not ever take out a personal loan from a bank a couple of months prior to the major loan if you are planning to take a major loan. This will impact you.
If you are taking a loan from the bank for a house or cars and truck, it is necessary to note your Debt Servicing Ratio which is a step of the portion of your routine income to the payment of your car or home loan.
A DSR of 50% implies your loan repayments, plus repayments of any other loans you have, can’t go beyond 50% of your income.Just for referral, a lot of banks permit 40% DSR for a house, and 30% DSR for a vehicle.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a vehicle loan for your cars and truck. It is not wise to get a personal loan for your automobile or renovation needs. When it concerns banks, particular loans’ rate of interest are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a higher rates of interest for individual loans. Due to the nature of such individual loans, it is not advisable to take personal loans except for emergency scenarios.